Events organiser ITE Group said it expected first-half revenue to increase by 7%, owing to underlying trading improvements and the benefit of biennials and event timing.

Revenue for the six months through March was expected to reach £75m, with revenue on a like-for-like basis increasing by 8%.

Growth was partially offset by the cancellation of less profitable events and the impact of foreign exchange, the company added.

Net debt at March 31 was around £52m.

As at 29 March, the company said it had booked around £137m of revenue for the full year, representing 85% of market expectations for the period.

On a like-for-like basis, revenues were 14% ahead of the same time last year and, on a volume basis, were 5% ahead reflecting the impact of earlier bookings and ITE's focus on core events.

'The board is pleased with performance to date and is confident in full year expectations,' the company said.


At 2:44pm: (LON:ITE) ITE Group PLC share price was -2p at 155.4p